Property Types Warehouses - multi-tenant or single-tenant distribution warehouses including pre-sales and development. Office - prefer multi-tenant suburban buildings. Multi-family - 125 units or larger, B and above, pre-sales and development ventures entertained. Retail - grocer anchored neighborhood centers, lifestyle centers, others on a select basis, including pre-sales and joint ventures. Long-term net leased properties - BB+ credit or higher. Flex properties - low to moderate finish, good parking. Target Geographic Areas We are actively seeking investment opportunities in our approved markets. Other markets will be considered on a case-by-case basis. Please contact your acquisition professional to discuss opportunities. Transaction Size Single asset - $10 million-$100 million preferred with larger or smaller transactions considered. Portfolio - Same MSA: $100 million or less preferred with larger transactions considered. Portfolio - Multiple MSAs: no predetermined maximum, considered case-by-case. Structure 100% fee ownership, but will consider assumption of existing debt and joint ventures. Risk Spectrum Primarily "core" assets; will also consider: Significant leasing risk on warehouse Pre-sale and development for certain product types Repositioning opportunities in office and industrial Quality No known environmental risk Good functionality Good construction quality For more information, please contact: Rod Vogel Managing Director - Acquisitions/Dispositions/Development Principal Real Estate Investors Phone: (515) 362-2073 Fax: (515) 248-8090 Vogel.Rod@principal.com